Expansion Project Details

Agastya Green Energy Limited, a wholly owned subsidiary of Sanginita Chemicals Limited and part of Anubhav Agarwal Group (AAG), announced a major expansion into integrated solar manufacturing with a project cost of approximately ₹7,800 crore. The expansion will establish 12 GW each of integrated ingot and wafer manufacturing capacity at the Orvakal Industrial Area in Kurnool, Andhra Pradesh.

Manufacturing Capacity and Integration

The project will create:

  • 12 GW integrated ingot manufacturing capacity
  • 12 GW integrated wafer manufacturing capacity

This expansion complements the company's existing solar cell and module manufacturing capabilities, creating a fully integrated solar photovoltaic value chain spanning ingots, wafers, cells, and modules.

Strategic and Financial Impact

The expansion aims to:

  • Enable greater domestic value addition within India's solar manufacturing sector
  • Strengthen domestic manufacturing capabilities
  • Create manufacturing efficiency and deeper integration across upstream and downstream segments of the photovoltaic value chain
  • Build an integrated and globally competitive solar photovoltaic manufacturing platform in India
  • Support India's growing renewable energy needs and energy security objectives

Employment Generation

The project is expected to generate 3,500+ employment opportunities in the region.

Government Alignment and Support

The expansion aligns with:

  • Ministry of New and Renewable Energy's (MNRE) ALMM framework, including ALMM List III for solar PV modules, cells and wafers
  • Government of India's Make in India and Atmanirbhar Bharat priorities
  • India's broader ambitions for renewable energy and energy security

The company acknowledged support from the Government of Andhra Pradesh, specifically mentioning:

  • Shri N. Chandrababu Naidu, Hon. Chief Minister of Andhra Pradesh
  • Shri Nara Lokesh, Hon. Minister of Human Resources Development, Information Technology, Electronics & Communication, Real Time Governance of Andhra Pradesh
  • Shri T. G. Bharath, Hon. Minister of Industries, Commerce and Food Processing

Management Commentary

Mr. Anubhav Agarwal, Chairman, AAG stated: "Our ₹7,800 crore investment in Agastya Energy reflects our long-term conviction in India's energy transition and our commitment to building globally competitive manufacturing capabilities at scale."

Mr. Piyush Bichhoriya, Director, Agastya Energy commented: "The expansion into Ingot and Wafer manufacturing marks a critical upstream pillar of Agastya Energy's integrated solar manufacturing strategy, complementing our solar cell and module capabilities and strengthening our end-to-end PV value chain."

Mr. Bernhard Rack, CEO, Agastya Energy added: "This expansion will strengthen Agastya Energy's capabilities across ingots, wafers, cells and modules. It marks an important step towards establishing India as a leading hub for clean energy manufacturing."

Company Background

Agastya Energy Group is a renewable energy company focused on building integrated capabilities across the solar photovoltaic value chain, operating across:

  • Solar module and cell manufacturing
  • Independent Power Production (IPP)
  • EPC (Engineering, Procurement, and Construction)
  • Operations and maintenance (O&M)

The company is headquartered in New Delhi and is part of the Anubhav Agarwal Group (AAG).